Editor's Note: Clara Hartree talks about the affluent area of West Vancouver and its real estate market in this Q&A.
Photo Credit: Onikon Creative
What is West Vancouver?
West Vancouver is a very high end enclave of Vancouver. We have the highest prices and also the highest incomes in Canada.
How long have you serviced the area’s real estate market?
34 years (since Expo year in 1986).
Photo Credit: Onikon Creative
What makes it such a special place to live in for residents?
West Van is nestled between mountains with ski slopes and the Pacific Ocean. The ski season usually goes from November to March. The spread in temperature between the mountains and the ocean is very high. We say that we can ski and swim in the ocean on the same day. The ocean is very protected, it's an inlet from the Georgia Straight between West Vancouver and the city of Vancouver. We have amazing ocean and city views. It is a laid back community of 40,000 with some of the best schools, parks, several sandy beaches, public tennis courts, trails, really idyllic. We also have our own police force. They get bored because there is virtually no crime. Sometimes a noisy party or a cat caught on top of a tree. It is a sought after area for new buyers from all over the World with emphasis on Hong Kong because the topography between mountains and ocean is similar.
Access to Vancouver is along the Lions Gate Bridge, very similar to the Golden Gate in San Francisco. If you keep driving North you get to Alaska! (At the moment our borders with the US are closed because BC has been very good at containing the virus, as opposed to the US. Many US tourists are coming here claiming that they are driving to Alaska 🙂
Photo Credit: Onikon Creative
How has the market performed in July and August?
The market is booming. We are able to have open houses. Interest rates are under 2% for a 5 year closed term mortgage)
Any new developments/homes that have captured more demand than others? Why?
There are two new buildings, one by Grosvenor, the UK developer. Sold out since 2016 as a pre-sale, now giving out keys. There will be resales. And Bellevue by Cressey, also a high-end building by a well known local developer. Prices are around CA$2200 per sq. ft.